Klosed Properties acquires 4,400 s/f mixed-use building for $2.1 million

 

 

Brooklyn, NY Klosed Properties has acquired 1002 Fulton St. for $2.1 million. 

The property is a 4,400 s/f mixed-use building, located in the Clinton Hill neighborhood, consisting of a church and three apartments. Future plans included converting the building to ground floor retail and six apartments.

Jacob Namdar, senior director of acquisitions said, “We are very bullish on the growth of the Clinton Hill neighborhood. Our play on this specific deal is to reposition the vacant church into a brand new retail space, as well as renovating and dividing the apartments. We continue to pursue additional acquisitions on this stretch of Clinton Hill.”

Adam Hajibai, director of acquisitions said, “We are aggressively looking for additional value-add properties in the boroughs. Our focus is on vacant/occupied retail condos, mixed use, and multifamily buildings (up to 200 units per asset), in NYC, Brooklyn, Bronx, & Queens.”